I HAVE 15K ($15000) OF GOLD SCRAP...........IS IT WORTH SELLING IT ON?OR WAIT ???AND DO YOUR THINK GOLDS ON THE WAY UP AGAIN? THANKS IN ADVAVCE my mistake ,,,to those below its $15000 (sorry) its gold items,rings chains,bracelets and so on..........some scrap (munched up kinda sttuff) heaps of re usable/salable items (i just class it all as scrap) thanks again
Depends, if they're just your avg 9/18CT.. won't make much of a difference... If they're 22/24CT, then yup wait....
15K is a lot to have tied up in scrap with prices at any level You could sell & raise cash to reinvest in Second Hand Gold Man activities or Refine & either hold. Or sell & buy recognisable bars or coins to hold or pass on Really depends on your financial situation Increasing the liquidity of the gold form will increase your premium and customer base something to consider if prices drop and you don't just want spot I'm assuming its all scrap meaning no item could be resold on the second hand jewellery market which opens up another avenue of increased revenue. Im sure your familiar with all the above as anybody collecting that amount of scrap is either a dealer or in dire need of a business plan. Regards REDBACK
15kg at spot is $660K Assuming say 15ct average? that's still maybe $375K in gold. Tax implications alone might be large, and if you sell before 1st July, you pay any CGT and/or income tax owing this year instead of next. I say sell it and buy a small investment property outright that actually generates income.
You main concern might not be the gold price, but what the AUD does over the next year. Gold could go up, but the AUD could drop, nullifying any gains in gold. Gold could go down and the AUD could go up, amplifying the drop in gold. Or any combination of those.
I assume(d) he meant $15k value. But I prefer your interpretation. Why not sell your 15kg of gold and take us all on a wild bender? But seriously though, the price is (historically) high, so I'd liquidate at least some of it now, and definitely if the price reaches AUD1750 or so.
15k might be dollars after putting the scrap in a calculator. If it's 15kg in scrap...well there's a lot to think about, first, do you have anything that you bought as scrap but might actually appeal to someone who would pay better than melt. After that you need to think about the gold market and the aussie dollar. If you aren't looking for a single pay day you could simply sell say 1/25th at a time. Every time you see a spike go and sell handful. Average the price you get.
